John Reosti is a reporter covering community banks in particular and the financial services industry in general. He also focuses on the Small Business Administration, the National Credit Union Administration Board and issues connected to the CECL accounting standard.
-
The New York bank reported a 17% drop-off in deposits during the fourth quarter as it sought to reduce its concentration in the digital currency realm. It expects its balance sheet to stabilize in the second half of 2023.
January 17 -
Robin Vince, who took the helm in September, said the world's largest custody bank has delivered disappointing results over the past decade, including in 2022, when he said it failed to control costs effectively.
January 13 -
AmeriServ Financial in Johnstown boosted earnings through the first nine months of 2022, but not enough to satisfy Abbott Cooper, who called the company a "prolonged underperformer."
January 12 -
The bank hired an executive from The Bancorp to manage its risk operations after the incumbent, Jeff Curry, announced his retirement.
January 9 -
The Tupelo, Mississippi-based institution hasn't made a bank deal since 2018, but it has acquired two asset-based lenders in the past 10 months.
January 5 -
The California bank, which owns the technology underlying the Diem stablecoin from Meta, said its deposits plunged 68% in the fourth quarter but that it has more than enough cash on hand to weather the storm.
January 5 -
The Mississippi bank would take a big hit to capital and income but avoid the risk of a bigger payout from a guilty verdict in litigation against banks that did business with Allen Stanford's disgraced financial empire.
January 3 -
Northeast Bank in Portland is putting capital earned from the Paycheck Protection Program to use, purchasing $1.1 billion of loans and launching a small-dollar Small Business Administration lending program.
December 30 -
The Amesbury-based bank reported solid growth and profitability throughout Dave Mansfield's 9-year tenure. The decision followed news of losses tied to the bank's move into digital-asset lending, though the bank has yet to file a 10-Q for the third quarter.
December 27 -
Some lenders to companies owned by women, minorities and veterans say they'd prefer that the Small Business Administration strengthen its Community Advantage program rather than bring them into the agency's flagship loan-guarantee program.
December 22
